Approximately 300 biotechnology, pharmaceutical, equipment, biofuels and medical device companies are based in Virginia, mainly clustered around universities in Blacksburg, Charlottesville, Richmond, Norfolk and Northern Virginia. This blog is an informal diary of what is going on with the industry in Virginia. Opinions here are those of the posters and not necessarily shared by Virginia Bio.

Tuesday, March 10, 2009

BIO President Jim Greenwood notes that there is so much more to the bioscience industry than just hESC research. IP protection, commercialization and FDA staffing are key factors that Congress must not overlook. Here is his key quote:

"And for biotechnology companies to succeed, we need to ensure that we have public policies in place which encourage innovation by protecting intellectual property, fully funding and appropriately staffing the Food and Drug Administration, and providing adequate reimbursement.”

WASHINGTON, D.C. (March 9, 2009) – The Biotechnology Industry Organization (BIO) lauded President Barack Obama’s Executive Order to allow the National Institutes of Health (NIH) to fund research using embryonic stem cells. The NIH was previously able to fund research only on a very limited number of stem cell lines.

“We fully support and are enthusiastic about President Obama’s decision to allow the NIH to fund embryonic stem cell research,” said Jim Greenwood, president and CEO of BIO. “BIO believes that research on both adult and embryonic stem cells holds great promise to produce new therapies and possibly cures for the millions of patients in the U.S. and around the world suffering from cancer, diabetes, Alzheimer’s, Parkinson’s, spinal cord injuries and other life-threatening diseases and conditions.”

Embryonic stem cell research will also further the development of cell-based therapies by leading to greater scientific understanding of cell differentiation (the process by which cells become specialized to perform certain functions) and proliferation (the process by which cells expand or multiply for controlled use as a potential therapeutic).

“Today’s action to expand NIH funding of stem cell research is a welcome and critical step. But it is only the first step in a very long and complex process to move from the promise of research to the reality of new therapies and cures for patients,” continued Greenwood. “To fulfill this promise, we need the advanced research capabilities and product development expertise of biotechnology companies. And for biotechnology companies to succeed, we need to ensure that we have public policies in place which encourage innovation by protecting intellectual property, fully funding and appropriately staffing the Food and Drug Administration, and providing adequate reimbursement.”

“We look forward to working with Congress and the Administration to develop public policies that enable our industry to turn the hope of basic research to the reality of cures and advanced therapies,” Greenwood concluded.